MONROE — With the go-ahead from the Wisconsin Housing and Economic Development Authority (WHEDA) in recent weeks, investors are ready to move forward with Alice Place Senior Living, a senior housing project with plans to break ground in Monroe within the next few months.
At a meeting in mid-November of 2019 the Monroe Common Council unanimously approved $600,000 in funding toward the proposed $8.5 million project, as well as the option for developers at Pioneer Property Management out of Platteville to purchase four acres owned by the city for $80,000.
City Attorney Dan Bartholf said the $600,000 commitment is due after the project is completed and once the certificate of occupancy is granted. The city has not made a decision as to where that money will come from. The land owned by the city has not yet been purchased.
Pioneer Property Management Vice President Joe Marone said after hearing from WHEDA, they now have the OK to move forward. Ground will likely be broken within the next few months and the project will finish in about 18 months, depending on weather, financing and scheduling.
The “Alice Project” will be a multi-level 47-unit facility with 16 one-bedroom apartment-style units and 31 two-bedroom units. Buildings are encapsulated with a door system and elevator. The building site is located in the southwest corner of a 100-acre parcel of land behind Walmart. Marone said a similar project is up and running in Boone, Iowa.
The facility will be age restricted and residents are approved based on income level. Marone said many of the stipulations are in place following the Department of Housing and Urban Development (HUD) guidelines. Residents will apply and qualify to live there.
“This is governed tightly with compliance,” Marone said. “It’s first come, first served.”
Pioneer Property Management has already done “multiple Alice Projects,” Marone said. They manage 85 properties nationwide that range from 18 to 144-unit buildings. The size of the complex is decided and set based on the community’s need after a market study.
Much of Pioneer’s business is creating affordable housing and Marone said it helps to allow an aging population to stay in their communities and frees up homes for new residents.
“Bringing senior affordable housing to Monroe will be integral to the growth of Monroe,” Marone said.
Pioneer works with Door Creek Construction, Monona, who then subcontracts local when possible, he said.
Six months before doors open, the company becomes “aggressive” in advertising to fill the space, Marone said. Those with questions or who wish to have their name added to the list when availability is clearer should call 608-348-7755 and reference: Alice Place Monroe.